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Home My WebLink About0288 ~ender to ths Mortgagee in accord~nce with the provisio~u ai tl~e uote eerur~d 1~Prrb~, iull ps~nient of the entire indebtednees repreaent,ed thereb~~, the Mortgagee, ~s t~rustee, she~ll~ in computing tl~e uuount oI auch indebtednesa, credit to the i?ccount o[ the Mo agor w~p creclil, balaACe remaining under tlie` pmvisions of (s) ?o . o[ ssid psragrsph 2. II there ehaU be s defau t under eny ot tLe proviaiot~s oi this ~nortga~e resulling in a " public eale oi the premises covered hereby, or if the Morigagee acquires the pmpert,r otl~erxise after default. the Morigagee~ as trvstee, ahall spply, a~ the time of the ca~runencement of such proceedings or at t}?e time the pmperts ~s otherwiae ecquired, tl?e smount then zemainin to credit o[ Morigugor under (a) of paragrapli 2 preceding as a credi~ on the intereat accrued and unpaid and ~ balance to th~ priacipal6hen re~uaiuing unpaid on asid note. ~ 4. He will p?y afl t~cee, seeeesnnente, aater retee, end other gmr~rnmental or manicipal chargea, fiaea, or impositions, for ~vhich pcovision has not beea made hereinbefore, snd ia default thereot the Mottgages may pey the eowae; ~nd thst 5e will promptly deliver the o~cci~l n~oeipte theretor to t~he Mortgsgee. b. He will permi~, oommit, or su8er no ~rsate, impairment, or deterioratioa of esid property ae sny psrt thcreof ezcept tr,aaonsble wear and tear• and in f,he avent ~ tLe failure of tbe Mort~or to keep the buildiags on nai~ ~rmiaee and thvae to be ereeLsc{ on eaid p~anlses, or imprv~vemenLs thca~:on, m good ~psir the Mortgsgee may - maice euch repaire ae in ita diecretiaa it msy deem neoeeeary tor the P~P~ P~~tion thereu~ and the full amount : of each and every tuch pqyment aheiU be dtra ~nd pe~able Wirty (30) deys e~ft~et demaad, ~ ahall be sacured by . the lien ot t~e mortgage~ 6. He ~v~l psy all ~ eingular the aoets, e~h~~and eacpenees, includlna reaaonable lawyer'a fee~ s~nd ooste of sbstrueta of title, incurred or paid At sny time by ortgagee becsuee of the fsilure on the ~xut of the Mortgagor pmmptty ~?nd i~}y to perform the ~eementa and oovenanta of esid promieeory aote and this mortgage, and said ' ~*6~, snd expeases ehall be imm~edist~ due and pqyn?ble and s6all be eecured by the lien of thia mortgage. 7. He rviIl oontiauoue~j maintain Lu~?rd maurana, of euch type or t~pes snd amonnts ss'•1~iortgsg~ee may trom tima to time require, on tLe impmvementa now or Leme~?iter oa saidp»m~~ and except when payment tor all such premiuma haa~ theretoiore been mada uader (s of pary~rsFh 2~ereoi he will pay promptly when ~ r~t~a~ due any pnmiuma thcrefor. A11 insw~noe ahall be carri~ in o~mpaiues spgmvec~ by I~io ee and the poli- cies wd renewals thereof aLall be held by 11~ortgagee and h~ve stt~cLed tbereto loes paysble cGuses ia iavor of v~ snd in form acoeptable to the Mo In event of loe~ he ~vill give immediate notice by mail to I~iartgagee~ and Mortgagee may mt?ke.proof o if not made promptly by Mortgagorf snd each inswanoe oompany eoncerned ia hereby~authonaed and directed to make payment tor such loes d~rectly to Mo~~ instead o# to I~iortgagor and Mortgagee ointly, aad the insuranoe prooeeds, or any part thereof map be appZied by Morw ~agee at its option eitber to ~e reduction oi the indebtednees hereby secured or to t'he restoreLion or repair of tbe property dama~ed. In event of toreclosure of tLia mort~a~~, or otber tranafer of title to the mortgaged pr~perty in extuzgmshment of the indebtednees eearred Lereby; all right, title, and interest of the Mortgagc~r m and to ao~ insur~woe policies thea in ioroa etull p9ss to tbs purchaser or g,nat,ee. 8. II tl~e re~niseg~ or an~ pari tliereo[, be candemned under the po~ver o! enunent, doniain or acc~uirnd ter p nise a public uee, tlie damages ~~varciell, tl~e proceecis for the ~of or the considerstion for suc•~i arquuition~ t• the extent ot the tull ~unount of bhe tenuining unpsid inde ted'ne~ secnred b~ this raongsi~, arn lienb~ assi~?ed to Uie Mortgagee, snd his heira or asaigns, and ahall be poid lortrthwith to said ~VlortgaRcr or lu~ sss~nee to be applied on account of the lsat maturing inatallmenta oi auc-4 indebtedness; provided, liov~erer, the Mortgagee or h~a assi~nee, msy at hia diecretion pa~ direct to the Mort,gagor, lus lte'u~s or assigns anr part or all oi such sr~~ard; pmnded, that if the lonn is Euarsnteed or insured, the conesut o! tltie guurautor or insurer is obtained in sdrsnce of said pa~tiuent The Mortgagee maY, st ~mY ~e Pendin~ s snit ~ thie mortgage, sPP1Y ta the ~ourt hsving juriediction thereof for tbe appointment ot a receiver, and such eourt e6a11 forthwith ~ppoint s reoeiver of the premises oovered bereby all aDd aingulur, incladin6 all ~wd eingulsr the inoome, profita, ieaues, aad revenues from whstever eouroe derived~ esch and every of ~rhich, it being racpceealy underatood, ie hereby mortgaged as if aPecifically set forth and deecribed in the 6ranting and habendum daueee hereof. 8uchsppointment shall be made by such court as an admitted equity and a matter oi abeoIute right to eaid MortgaEee, snd w?ithout reference to the adequacy or insdequacy of the value of the pmperty.mortgaged os to the eolvency or ineolvency of Said Mortgagor or t»'?e defendants. Such rents, proSts, income, iesuee, snd revenues ahall be spplied by eucli reoeiver aco~rding to the lien of this mortgage snd the practioe of euch oourt. . In the event of any deisult oa thep~ of tbe Mortg,~gor hereunder, the Mort,ga6or j agrees to pay to t6e Mo on demand as a reasonable monthly rental for the premises an amount at leaat ~ equivalent to one-tweUth ( s) of the ag~regate of the t~velve monthly installments payable in the then currenti ( year plus the sctusl umount of the annusl taues, ~Bea~nents, tvater ratea, and in8uranoe premiwns for such yeas ~ aot oovered by t6e storesaid monthly peymenta. ~ lO.In the event of sny breach of thia mortgage or default on the part of the 1Vlortgagorj.or in the event that € sny of eaid auma of money t~ereia refen~ed to be not promptly and fully paide?ccording to the tenor hereof, or in the ~ event that each snd every the etipulationa, agreementa, oonditione, snd covenante of eaid note and this mortgaae, ~ are not duly, promptly, aad fully perforcned; then in either or an~r auch event, the eaid aggregate sum mentioned in eaid note then remaining unpaid, rvith intereat aocrued to that tune, and all moneys secured hereby, shall become due and paysble forihwith, or thereafter, at the option of aaid Mortgagee~ as fully snd completely as if all of the said sums of money were originally atipulated to be paid on such day, anyLhing in eaid note or in this mertgage to the oontrary not~vithstanding; swd thereupon or thereafter, at the option of said Mortgaaee, R~thout notice or demand, suit at la~v or in equity, may be praeecuted as if all moneys eecured hereby had maturec! prior to its institu- tion. The Mortgagee may forecloee this mortgage, as to the amount eo .declared due snd payable, and the said premiees shall be sold to satisfy and pey the same together ivith costs, expenses, end aUoaances. In case of part.ial foreclosure of thia mortgage, the mortgaged premises shall be sold eubject to the oontinuing lien of this mortg,~e ~ = for the amount of the d~bt not then due and unpaid. In euch caee the provisiona of this paragraph may again be availed of thereafter from time to time by the aiortgagee. 11. No ~vsiver of anq oovenant berein or of the obligation eecured bereby shall ~t sny time thereafter be beld ~ t~o lr,e s~vaiver of the terme hereof or of the note secured hereby. " 12. The lien of thia inetrument ahall re~usin in full force snd eNect during ~?ny poetponement or exteneioa af r the time oE peyment of the i.ndebtednees or s?ny pert thereof eecured hereby. ~ 13. If the latortgagor default in any of the oovenanta or sareementa oontained herein, or in eeid note, then the 4 luiortgsaee msy perform the same, ~nd all eupenditures (including reasonable altorney's feea) me?de by the Mort~s~ee ~ ~ in eo doing shall draw interest st the rate provided for in the principal indebLedness, and ahall be repa~•able ~ thirty (30) daya sfter demand, stnd, together with interas6 and costa ~?ocrued tLereon, ahall be aecurecl by k° this mortga~a. ~ 14. Upon the request of the Mortg~;ee the ]?~iortgagor shall execute nnd deliver s supplem~ntat sote ~r aotes for the sum or sums sd~ anced by tLe ~iortgagee for the alteration, modernization, impro~ cment, ~aia- ~ tenance, or repair of said premises, for taxes or assessments agninst the same and for any other purpose suthor ~ ued hereunder. Ssid note or notes ahall be secured hereby on a parity ~vith and as fully as if the adrance evidenced thereby were included in the note first described above. Said ai~pplemental note or notes shall ?~ear ~ interest at the rate provided for in the principal indebtedness and st~all bepa yabte in a?pprosimatcl~ equa! ~ monthly pavments [or such period as may be agreed upon by the creditor and debtor. FaiLng to a};rec on the maturity~ tf~e ~~hole oi the sum or sums so ad~anced shell bc due and pa~•nble thirty (~0) da~•s uR~r drman~l i by tl~e crcditor. In no event shsll LLe maturity exteud tx;yond lhe ultimate rsaturity of tLe nole tiret p described above. ~ ~ ~ BODK~Jp pAGE ~U3 _ _ ~ '~,'y,~' . n i;' eYt~:r ~ -~`n4-. . 'X ;v~~ .~,y„aa.~ 'n _ {y ~ ~k. ~S~.y-.~ : ~ Y . i~'+'~